Market Snapshot

Singapore stocks opened lower on Monday. STI down nearly 1%; Kep Infra Tr up 1.3%; DBS Group down 1.5%; SIA down 1.6%; Sats Ltd, Seatrium, YZJ Shipbldg down over 2%.

Stocks in Focus

OCBC: The lender has committed more than RM11 billion (S$3.3 billion) in financing to support businesses in the Johor-Singapore Special Economic Zone (JS-SEZ) since 2024, the bank said on Sunday. By end-2025, it expects to provide at least RM3 billion more in financing for real estate, oil and gas, manufacturing and data centres, which will further catalyse economic activities and cross border investments in Johor and the JS-SEZ. The counter finished on Friday 0.6 per cent or S$0.09 lower at S$15.90, before the announcement.

Fu Yu: Four proposed directors have been assessed by an independent party who made no findings against their suitability for the role, the components manufacturer said on Friday. This follows the resignation of three of Fu Yu’s directors on Jun 11, which left the group with only one director on its board. The group added that the proposed candidates are not involved in matters relating to its unit, Fu Yu Supply Chain Solutions, which is under investigation. Fu Yu ended on Friday at S$0.09, down 4.3 per cent.

Keppel infrastructure Trust (KIT): The board of KIT, in its capacity as trustee-manager, has obtained S$25 million in bank facilities, it said on Friday. It will be required to pay all outstanding loans under the facility agreement immediately should it cease to be KIT’s trustee-manager, if its ability to perform payment or material obligations under the agreement are restricted due to matters relating to it or if the replacement or substitute trustee-manager is not appointed according to the KIT trust deed’s terms or applicable law. Units of KIT ended on Friday 1.3 per cent or S$0.005 lower at S$0.39, before the announcement.

SG Local News

SGX Lists 6 New Singapore Depository Receipts; 3 HK Mega-Caps and 3 Thai Names

The Singapore Exchange (SGX) will be listing six new Singapore Depository Receipts (SDRs) on Monday (Jun 23), comprising three Hong Kong (HK) mega-caps and three Thai blue-chip companies.

The HK companies are Semiconductor Manufacturing International Corp, e-commerce giant JD.com and PetroChina, while the Thai names are private hospital operator Bangkok Dusit Medical Services, food conglomerate CP Foods and Gulf Development.

This takes the total SDR shelf to 21 securities on SGX, and covers approximately 50 per cent of the SET50 and Hang Seng Index by constituent weight.

Laopu Gold Opens its First Overseas Store in Singapore

Laopu Gold's new Singapore store officially opens on June 21. Located in The Shoppes at Marina Bay Sands, Singapore's iconic luxury retail destination, the new store will be situated alongside world-renowned brands such as Louis Vuitton, Hermes, and Chanel. This is Laopu Gold's first store outside of China.

Amid sustained pressure in Asia's luxury consumer market, Laopu Gold, a premium gold brand from China, has attracted significant attention across both the consumer and capital markets. The brand continues to draw long queues at high-end shopping malls in China such as SKP and MixC, and its store located in Yuyuan Garden, a cultural landmark in Shanghai, has become a popular destination for tourists from around the world. With the opening of its new store in Singapore, Laopu Gold is further expanding the global presence of traditional Chinese handcrafted gold.